The global n- Heptane market is anticipated to expand at a steady 5.7% CAGR over the forecast period between 2022 and 2032, finds Future Market Insights (FMI) in a recent market analysis.
The growth of the paints and coatings industry, which drives the n-Heptane market, is being fueled by rising automobile production and rising building and construction activities. Rising demand in the pharmaceutical industry also will support the growth of the market.
The demand for n-Heptane is also driven by the increasing number of regulations imposed on the use of solvents such as aromatic solvents and also boosting the market by increasing production capacity and plant efficiency.
N-heptane is often used as an industrial fuel, a cleaning agent, and a laboratory agent. Cleaner extracts are known to be produced with n-heptane.It has various advantages over dichloromethane solvent because of its comparatively nontoxic properties. In certain conditions, such as when employed as a solvent, the latter produces hydrochloric acid, which can destroy extraction equipment. Using n-heptane, this disadvantage might be easily overcome.
Request for Report Sample: https://www.futuremarketinsights.com/reports/sample/rep-gb-6547
However, the rising demand from various industries is boosting the market. N-Heptane is used as a paint solvent and rubber cement thinner in paints & coating industry. It is also excellent for oil extraction and solvent extraction. Jun yuan Petroleum Group produces a high purity (99.9%) grade of n-Heptane which is widely used in laboratories in the United States as a non-polar solvent, botanical processing labs, etc.
“Being one of the most versatile chemicals, n – heptane is known for its applications in the purification process of pharmaceutical products which is primary factor responsible for the positive outlook of n-heptane market growth during the forecast period of 2022-2032,” says an FMI analyst.
Key Takeaways:
- Growth of the pharmaceutical industry led to increase the demand of n heptane and pushing sales in the greater than 99% segment over the assessment period.
- The global n-heptane market is likely to be dominated by Asia Pacific with China majorly driving the growth of the East Asia due to continuous growth in automotive, plastics and polymer, and adhesive and sealants industries.
- By purity, demand for 95-99% is expected to surge at a 5.7% CAGR over the forecast period.
- Sales of n- Heptane in the U.S. are anticipated to increase by 4.0% year-over-year in 2022.
- China is expected to account for over 49.9% of the East Asia n- Heptane market share in 2022.
Competitive Landscape
Key market participants in the global n- Heptane market elaborated in the report includes Exxon Mobil Corp, Royal Dutch Shell plc., SK Global Chemical Co., Ltd., Haltermann Carless Deutschland GmbH, Chevron Phillips Chemical Company, Sankyo Chemical Co. Ltd, DHC Solvent Chemie GmbH, Gadiv Petrochemical Industries Ltd. and many others. and many others.
Companies operating in the global n- Heptane market are focusing on increasing their production capacities to boost their market footprint especially in the emerging economies. Furthermore, key market participants are focusing on mergers, acquisitions and collaborations strategies to expand their global presence and strengthen their distribution network. For instance:
On February 2018, Hanwha Total Petrochemical Company Limited began with the production of normal heptane, which can be integrated into various products such as pharmaceuticals, transport, storage, etc. Normal heptane is a by-product of naphtha cracking. The company spent US$ 455 Mn on its Naphtha Cracking Centre in South Chungcheong province.
We Offer tailor-made Solutions to fit Your Requirements, Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-6547
n- Heptane Markey By Category
By Purity:
- <95%
- 95-99%
- ≥99%
By Application:
- Pharmaceuticals
- Paints & Coatings
- Electronics
- Adhesives & Sealants
- Plastic & Polymers
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
LinkedIn| Twitter| Blogs
For Sales Enquiries: sales@futuremarketinsights.com